Hi guys!
There is my 350 army that I created for tournament:

Warband 1
Thorin (The Oakenshield) - leader
6 Warriors of Erebor (spear, shield)
6 Warriors of Erebor (shield)

Warband 2
Legolas (Armour, Elven Cloak)
3 Wood Elf Warriors (spear)

Thorin is a strong leader - hard to kill and good against units.
Dwarves - main force that can be very powerfull with axes, D7 and supported by Elves with F5. Legolas to shoot down enemy leaders, banners, etc.

What do you think? Is this a competitive army?

I can see this being quite good.
I initially questioned why there were 3 random Wood Elves with spear but obviously they were just points left over. You could always swap them for a sentinel of you have enough points, but I suppose you need the extra numbers.

Speaking of which, most people would probably struggle to bring down 2 major heroes at this points level, and you have a combat one and a ranged one, looks very nice.

I can see one suggestion people might say being to replace Thorin with a Dwarf captain and then increase the number of wood elves, but that probably isn't the army you're going for.

_________________
Sun is by sea-men always hoped for,
when they fare away over the fishes' bath,
until the brine-stallion they bring to land.
OERP